Climb Bio (NASDAQ:CLYM) Stock Dropped to “Sell” by Wall Street Zen

Wall Street Zen downgraded shares of Climb Bio (NASDAQ:CLYM) from a hold rating to a sell rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

CLYM has been the subject of several other research reports. Wedbush reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Climb Bio in a research note on Wednesday, August 19th. Guggenheim assumed coverage on shares of Climb Bio in a research report on Monday, June 8th. They issued a “buy” rating and a $35.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Climb Bio in a research note on Friday, July 17th. BTIG Research boosted their target price on Climb Bio from $20.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, September 3rd. Finally, Mizuho raised Climb Bio to a “strong-buy” rating in a research note on Wednesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $26.92.

Climb Bio Trading Down 1.2%

Climb Bio stock opened at $10.94 on Friday. The firm has a market capitalization of $628.39 million, a P/E ratio of -13.18 and a beta of -0.04. Climb Bio has a 1 year low of $1.54 and a 1 year high of $18.33. The business has a 50-day moving average of $14.12 and a 200-day moving average of $11.72.

Climb Bio (NASDAQ:CLYM) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.03. Research analysts anticipate that Climb Bio will post -0.78 EPS for the current fiscal year.

Insider Transactions at Climb Bio

In other Climb Bio news, Director Stephen Thomas sold 100,000 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $13.67, for a total transaction of $1,367,000.00. Following the sale, the director directly owned 467,969 shares of the company’s stock, valued at $6,397,136.23. The trade was a 17.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Climb Bio

A number of large investors have recently modified their holdings of CLYM. Legal & General Group Plc acquired a new position in shares of Climb Bio during the 2nd quarter worth approximately $45,000. Spark Investment Management LLC acquired a new stake in shares of Climb Bio in the 2nd quarter valued at approximately $177,000. State of Wyoming bought a new position in shares of Climb Bio in the second quarter valued at $187,000. The Manufacturers Life Insurance Company grew its stake in shares of Climb Bio by 11.2% in the first quarter. The Manufacturers Life Insurance Company now owns 156,317 shares of the company’s stock valued at $1,071,000 after buying an additional 15,700 shares in the last quarter. Finally, Bank of America Corp DE acquired a new position in Climb Bio during the second quarter worth $335,000. 69.76% of the stock is currently owned by institutional investors and hedge funds.

Climb Bio Company Profile

Climb Bio, Inc is a clinical-stage biotechnology company focused on developing novel therapies for patients with immune-mediated diseases, including autoimmune disorders. The company’s research is centered on addressing underlying drivers of abnormal immune activity and developing treatments intended to provide durable disease control.

Climb Bio’s activities include the discovery, development and clinical evaluation of investigational biologic medicines. Its programs are designed to target pathways involved in B-cell function, autoantibody production and other mechanisms that contribute to autoimmune disease.